(L-R) Multiplier co-founders Amritpal Singh and Sagar Khatri
Multiplier, a Singapore-based startup aiming to simplify international hiring, has secured US$13.2 million in a Sequoia India-led Series A financing round.
Individuals, including Deepinder Goyal (Zomato) and Amrish Rau (Pine Labs), along with existing investors, also co-invested.
The new round follows a US$$4 million investment round led by Sequoia Capital India’s Surge programme in July.
Multiplier will use the new capital to boost its full-stack platform and expand globally. A portion of the proceeds will also be deployed to scale up its payroll and benefits solutions for businesses.
Also Read: How to simplify the overcomplicated hiring process
Multiplier was established in 2020 by Amritpal Singh, Sagar Khatri, and Vamsi Krishna. It is a professional employer organisation (PEO) platform that allows companies to hire talent from anywhere in the world. In addition, the startup provides automated HR workflow, compliance, payroll and payments tools.
As per a press statement, the company has doubled its customer base since it came out of Surge, and revenues grew 3x.
Multiplier co-founder Sagar Khatri said: “Talent is everywhere, and our vision is to enable companies to hire the best person for the job, regardless of their location. We have grown exponentially since the launch, which is testament to the demand from companies—both large and small—for a simplified, international employment solution.”
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